SINGAPORE, Sept 11 (Reuters) - Singapore state investor
Temasek and private equity firm KKR KKR.N are among the
suitors who have advanced to the second round of an auction to
buy into the hospital unit of Metro Pacific Investments Corp
MPI.PS , sources told Reuters.
The unit, which operates 14 hospitals, many of which are
among the largest and most modern in the Philippines, had
attracted interest from more than a dozen investors. Buyout firm CVC and strategic investors figure among the
bidders, said the sources, who have knowledge of the matter.
The bidders are valuing the hospital unit at up to $2
billion, pegging its valuation at just over 20 times next year's
estimated core profit, as they seek a majority economic stake in
it, the sources added on condition of anonymity as the talks are
private.
CVC, KKR and Temasek TEM.UL declined comment, while Metro
Pacific did not immediately respond to requests for comment.